Fertilizer Prices & Supply Chain Issues: What to Know
Normally when farmers get together the first topic they discuss is the weather. These days the first topic that come up is fertilizer prices and if it will be available at all next spring? The University of Minnesota Extension Service recorded a Nutrient Management Podcast discussing why fertilizer prices are high and what farmers should be thinking about. It is about 42 minutes long but does a great job of explaining what is going on and what farmers should be thinking about!
Guests on the podcast include: Brad Carlson, U of M Extension Educator, Jim Carlson, Vice President of Agronomy at United Farmers Coop in Winthrop, Minnesota, Josh Linville, Director of Fertilizer at StoneX Financial and Russ Quinn, ag market reporter for DTN/The Progressive Farmer and a farmer in eastern Nebraska.
Some of the specific topics discussed include: why are fertilizer prices so high, how do they compare to recent past, what are price ratios and why is this important to watch, how are farmers reacting to high prices and availability concerns, and what should farmers be thinking about for next spring?
The last time fertilizer prices were this high many farmers cut back on their corn acres and planted more soybeans. That resulted in a decrease in demand for fertilizer. Nitrogen demand dropped by 11 percent, phosphate was down 32 percent and potash 40 percent. That is one way farmers can react to high fertilizer prices! Click on the link above and listen to the podcast on fertilizer prices!